Sesame production is expected to increase by 15000 hectares from last year, but heavy rains at the onset of last month have damaged the crops. Due to this, quality has also deteriorated along with a decline in production in all the producing states.
Buying pressure
The buying pressure is on due to the possibility of a fall in production. And this is why the sesame price chart has an atmosphere of growth, and the uptrend is expected to continue on the back of subscription support.
According to the sources, in the shops of Uttar Pradesh’s Lalitpur, Jhansi line, the arrival is stuck at 500/600 bags daily, while on Jalaun, Auraiya, Urai etc. lines, the arrival remains in limited quantity due to heavy damage to the late crop due to rain.
Export demand turned bullish only 2/3 months before the arrival of new goods. At present, due to solid buying from Gujarat and Maharashtra, it is felt that there may be a strong upswing soon as all-around buying pressure remains.
Future Scenario
Madhya Pradesh Traders anticipate a boom as there is good production but severe crop damage. Overall there is no old stock left in the country, limited production, and fewer arrivals are expected. Due to the rise in sesame seeds, there are also chances of a boom in sesame oils. Within the last 8/10 days, it has jumped from $0,18/0,24 a kg to $2,69 a kg in the local market. With the rise in sesame, oil is also expected to remain strong in the spot for the next 2-4 days.
The Sesame seeds natural 99.95% sortex prices were recorded at $1,99 per kg FOB.